Diasorin S.p.a. · MIL:DIA
Diasorin — FY 2020 Earnings Presentation
15 slides from Diasorin's earnings presentation, Mar 11, 2021
Slide 1: FY 2020 Results
FY 2020 RESULTS March 11, 2021
Slide 2: Disclaimer
Disclaimer These statements are related, among others, to the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation rela
Slide 3: Financial Highlights
Financial Highlights Change Data in €/mln FY’20 @ current @ CER Revenues 881.3 +24.8% +27.0% CLIA ex Vitamin D +8.9% +11.0% Vitamin D -27.4% -25.9% ELISA tests -30.4% -29.2% Molecular tests +307.3% +313.4% Instruments & Others +8.0% +10.0% EBITDA 385.3 +39.2% +41.7% EBITDA Margin 43.7% 43.7% +452 bp
Slide 4: Immunodiagnostics: FY 2020 key facts
FY 2020 key facts Immunodiagnostic Installed Base Product Development • LIAISON SARS-CoV-2 S1/S2 IgG: for the detection of IgG antibodies against SARS-CoV-2 (CE marked and approved for Emergency Use Authorization in the U.S.) @ December 31, 2020 • LIAISON SARS-CoV-2 IgM: for the detection of IgM ant
Slide 5: Managerial outlook on FY 2020 revenues
Managerial outlook on FY 2020 revenues Total Group revenues (data in €/mln @CER) Quarterly evolution of the business Positive results, despite: +27.0% • BUSINESS EX-COVID: first signals of deceleration in some European Countries and negative Q1 impact in China due to COVID-19 pandemic • COVID-19 TES
Slide 6: Focus: impact of COVID-19 pandemic at top line level
Focus: impact of COVID-19 pandemic at top line level +27.0% 896.8 +55.1% 706.3 281.1 (80.1) +270.6 -11.3% 181.2 (4.9) +104.8 -2.7% Q4 2019 Q4 2020 FY 2019 FY 2020 Change in business ex-COVID COVID-19 tests contribution Data in €/mln @ CER Managerial outlook on reported data; Change QoQ and YoY @ CER
Slide 7: FY 2020 revenue growth by geography and technology
FY 2020 revenue growth by geography and technology FY’20 vs. FY’20 vs. BY GEOGRAPHY FY’19 BY TECHNOLOGY FY’19 EUROPE & AFRICA • All countries recording positive top line trend in H2, mainly thanks to CLIA EX VITAMIN D TESTS reported +8.9% +20.5% the contribution of molecular COVID-19 testing @ CER +
Slide 8: FY 2020 revenues breakdown @ current exchange rate
FY 2020 revenues breakdown @ current exchange rate BY GEOGRAPHY BY TECHNOLOGY Instruments & other revenues FY’19 10.3% FY'19 USA & Canada Molecular diagnostic tests 29.1% 9.0% Europe & Africa CLIA tests 46.1% ELISA tests 67.4% COVID molecular 13.3% COVID sales drive sales drive the Asia Pacific the
Slide 9: FY'20 profitability profile
FY’20 profitability profile DATA IN €/MLN FY'19 FY'20 Change % GROSS PROFIT 488.7 602.9 +23.4% EBITDA 276.8 385.3 +39.2% @ CER +41.7% EBITDA MARGIN 39.2% 43.7% +452 bps @CER 43.7% +455 bps EBIT 217.9 324.2 +48.8% NET PROFIT 175.7 248.3 +41.3% FY’20 increase in EBITDA and EBITDA margin mainly driven
Slide 10: Company Guidance
Company Guidance H1’21 GUIDANCE: management expects, at constant exchange rates and perimeter compared to H1’20, the following: • REVENUES: growth of approximately 40% • EBITDA MARGIN: equal to approximately 45% Given the uncertainty of the macroeconomic and health context expected in the forthcomin
Slide 11: Financial schemes
Financial schemes 11
Slide 12: Income Statement
Income Statement FY Change (Amounts in million of euros) 2019 2020 amount % Net Revenues 706.3 881.3 +175.0 +24.8% Cost of sales (217.6) (278.4) -60.8 +27.9% Gross profit 488.7 602.9 +114.2 +23.4% 69.2% 68.4% -0.8% Sales and marketing expenses (142.8) (144.1) -1.3 +0.9% Research and development cost
Slide 13: Balance Sheet
Balance Sheet (Amounts in million of euros) 12/31/2019 12/31/2020 Change Goodwill and intangibles assets 370.3 356.7 -13.5 Property, plant and equipment 128.4 140.5 +12.1 Net working capital 211.0 217.9 +7.0 Other non-current assets / (liabilities) (33.9) (64.2) -30.3 Net Invested Capital 675.7 651.
Slide 14: Cash flow statement
Cash flow statement FY (Amounts in million of euros) 2019 2020 Cash and cash equivalents at the beginning of the period 73.1 157.6 Cash provided by operating activities 232.7 304.6 Cash used in investing activities (52.2) (73.0) Cash provided/(used) in financing activities (68.4) (90.0) Acquisitions
Slide 15: DiaSorin
DiaSorin